Stock Track | ASMPT Plunges 17% as Yearly Profit Suffers Sharp Decline

Stock Track02-26

Shares of semiconductor equipment manufacturer ASMPT Ltd (00522) plummeted 17.06% in intraday trading on Wednesday, hitting a near two-year low as the company reported a significant drop in its 2024 annual net profit.

ASMPT's 2024 net profit plunged 51.9% year-over-year to HK$342.2 million ($44.04 million), while revenue declined 10% year-over-year to HK$13.23 billion. The disappointing financial performance was further compounded by a 94.4% year-over-year drop in fourth-quarter net profit to HK$4.2 million, although revenue remained flat at HK$3.4 billion ($437.53 million).

Looking ahead, the company provided revenue guidance for the first quarter of 2025, anticipating a range of $370 million to $430 million, which is approximately flat compared to the same period last year. This outlook suggests continuing challenges in the near term for the semiconductor equipment manufacturer.

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